Dividends Declared in 2026: Malawi MSE Companies — Amounts & Payment Dates

Last updated: July 18, 2026 | Reading time: ~5 minutes

Malawi's stock market has spent two years as one of the world's unlikeliest bull markets — the MSE All Share Index sits above 513,000 after a relentless multi-year run — and its dividend season shows the engine behind it: banks earning their way through a high-rate, high-inflation economy. The 2026 declarations tracked so far are both banks: Standard Bank Malawi's MWK 22 per share final and NBS Bank's MWK 4.50, carrying declaration yields of roughly 6.7% and 9%.

This tracker covers MSE-listed companies with declared 2026 dividend events in our Malawi dividend calendar. Amounts are in Malawi kwacha (MWK) per share, gross before withholding.

Quick summary:

• 2 tracked dividends declared so far in 2026 — Standard Bank Malawi and NBS Bank, both FY2025 finals with June payment dates.
• NBS Bank's payout landed near a 9% declaration yield; Standard Bank Malawi's at ~6.7%.
• Malawi withholds 10% on dividends, deducted at source.
• The MSE lists 16 securities dominated by banking — Standard, FMB Capital, National Bank of Malawi, FDH and NBS are five of the eight largest listings — so bank declaration season is dividend season.

> Track live Malawi market data on the MSE market desk, or compare payouts across the continent in the 2026 African dividends tracker.

## Dividends Declared in 2026

Yields at declaration: NBS ~9.0%, Standard ~6.7%. Amounts are gross, before the 10% withholding deduction.

## Company Notes

Standard Bank Malawi — MWK 22 final. Malawi's largest listed company by market value — part of South Africa's Standard Bank Group — closed FY2025 with a MWK 22 per share final (ex May 22, payment June 19). Its market capitalisation of roughly MWK 4.7 trillion makes it the anchor of the MSE, and its payout one of the largest cash distributions in the country.

NBS Bank — MWK 4.50 final. The NICO-affiliated retail bank paid the season's richer yield: MWK 4.50 per share (ex May 16, payment June 13), close to 9% at declaration. NBS has been one of the MSE's turnaround stories, from near-distress in the late 2010s to consistent profitability and payouts today.

## What Stood Out This Season

Bank yields held up despite the rally. The MSE's multi-year surge has repriced almost everything upward, yet the banks still declared at 7–9% yields — a signal of how fast Malawian bank earnings have compounded under high interest rates.

Mid-June is Malawi's payday. Both payments were scheduled within a week of each other in mid-June, following mid-May ex-dates — a compact income window worth marking for 2027.

The heavyweights still to declare. National Bank of Malawi — historically the exchange's biggest earner — plus FMB Capital, FDH Bank, NICO Holdings, Airtel Malawi and Illovo Sugar all have payout histories. Our tracker adds their 2026 declarations as they are confirmed.

## How Malawi's Dividend Tax Works

Malawi applies a 10% withholding tax on dividends, deducted at source as a final tax. An NBS declaration yield of ~9% therefore nets an individual investor roughly 8.1% — still among the better cash returns available on the exchange.

## How to Track MSE Dividends

Our Malawi dividend calendar carries declared MSE dividends with ex-dates, record dates, payment dates and USD equivalents at official rates. For the continental picture, see the 2026 African dividends tracker.

## FAQ

Which Malawian companies have declared dividends in 2026? Two tracked so far: NBS Bank (MWK 4.50 per share, payment June 13, 2026) and Standard Bank Malawi (MWK 22 per share, payment June 19, 2026).

What is the dividend withholding tax in Malawi? 10%, deducted at source.

Which MSE stock had the higher yield in 2026? NBS Bank — roughly 9% at declaration, versus about 6.7% for Standard Bank Malawi.

## Sources

• Mansa Markets Malawi dividend calendar — compiled from company declarations and MSE notices
• Standard Bank Malawi Plc — FY2025 results and dividend declaration
• NBS Bank Plc — FY2025 results and dividend declaration
• Malawi Revenue Authority — withholding tax on dividends

This tracker is for informational purposes only and does not constitute investment advice. Declared amounts and dates can change if companies amend payment schedules after publication.